A blockchain is a decentralized digital ledger of transactions that combines powerful cryptography algorithms with a system of decentralized computing power. Instead of having a single party keep a record of all of the transactions that happen within a given system, a blockchain shares the task of recording those transactions among the people making them, and the underlying technology verifies that all users are keeping matching records.
Why Should I Blockchain my Trademark?
- There is indisputable evidence of use in case of infringement from a third party.
- Immutable timestamps—timestamps cannot be altered by any party - associated with proof of trademark use.
- Use of registered and unregistered trademarks can be recorded on the same distributed ledger, creating a comprehensive picture of all trademarks in use.
- Records can be made for trademark use in jurisdiction.
- Blockchain can be used to build comprehensive, unequivocal timelines of trademark use and rights.
- Records are quick to obtain, are always accessible, and cannot be changed.
Blockchain facilitates supply chain coordination between manufacturers, shippers, middlemen, and delivery, ensuring only legitimate goods enter the supply chain and are delivered to consumers. Customs authorities can reference supply chain blockchain to validate legitimate goods or identify counterfeit goods.